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Proparco is supporting the growth of SMEs and promoting the financing of energy efficiency and renewable energy projects in Nigeria via a USD 85m loan to United Bank for Africa (UBA).
Client presentation

UBA is a Nigerian bank and is today the country’s 3rd largest bank. It is a major pan-African bank operating in 20 African countries and has over 18 million clients. UBA is a universal bank highly renowned in the segment of large corporates and wishes to open up to the SME market. 

Project description

Our financing will support the development of its SME activity and promote the financing of energy efficiency and renewable energy projects in Nigeria. It will thereby contribute to the construction of green infrastructure, which is required to address the huge energy challenge facing the country, as well as other African countries, by financing several subsidiaries that do not have direct access to dollar financing.

Project impact

The operation should create over 7,000 jobs in the bank, which will increase the payroll by about 60%. Almost half of these jobs should be held by women and all employees will benefit from in-house training.
Furthermore, the funded projects, which are geared towards energy efficiency and renewable energies, should have a positive impact on access to electricity and contribute to reducing CO2 emissions.

Download the project sheet

This project is carried out with the support of the European Union and Organization of African, Caribbean and Pacific States (OACPS)
11/28/2019
Date of signature of the project
Banks and Financial services
Sectors
Nigeria
Location
Loan
Financing tool
77 139 486 Euros
Amount of funding
USD 85m loan
Financing details
United bank for Africa
Client
Nigeria
Head office country
PNG1061
Project number
CES

The content of this project information sheet falls under the sole responsibility of the Proparco and does not necessarily reflect the opinions of the European Union and the African, Caribbean and Pacific Group of States (ACP Group).


This information is given at the time of signature, without prejudice to any developments in the operation/project